Movado Group, Inc. (NYSE:MOV) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its holdings in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 56.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440,576 shares of the company's stock after selling 573,497 shares during the quarter. Pacer Advisors Inc. owned approximately 1.98% of Movado Group worth $8,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MOV. Linden Thomas Advisory Services LLC raised its holdings in shares of Movado Group by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 47,992 shares of the company's stock valued at $1,193,000 after acquiring an additional 758 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Movado Group by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company's stock worth $495,000 after buying an additional 779 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in Movado Group by 7.8% in the 1st quarter. Quadrature Capital Ltd now owns 12,183 shares of the company's stock valued at $340,000 after purchasing an additional 880 shares during the last quarter. Innealta Capital LLC acquired a new position in Movado Group in the second quarter valued at approximately $25,000. Finally, AQR Capital Management LLC increased its stake in Movado Group by 1.4% during the second quarter. AQR Capital Management LLC now owns 93,643 shares of the company's stock worth $2,328,000 after acquiring an additional 1,255 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

Movado Group Price Performance

Shares of NYSE MOV traded up $0.53 during midday trading on Friday, hitting $19.60. The company's stock had a trading volume of 159,821 shares, compared to its average volume of 163,721. The firm has a market capitalization of $435.51 million, a price-to-earnings ratio of 12.33 and a beta of 0.99. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.44. The business's fifty day simple moving average is $19.14 and its two-hundred day simple moving average is $22.76.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $159.31 million for the quarter. Movado Group had a return on equity of 7.23% and a net margin of 5.45%. During the same period in the previous year, the business earned $0.38 EPS. Analysts anticipate that Movado Group, Inc. will post 0.95 EPS for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date was Monday, September 16th. Movado Group's dividend payout ratio (DPR) is 88.05%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Movado Group from a "buy" rating to a "hold" rating in a research report on Friday, September 6th.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.